Jefferies Group Comments on Medley Capital Corporation’s Q1 2018 Earnings (MCC)
Medley Capital Corporation (NYSE:MCC) – Equities researchers at Jefferies Group decreased their Q1 2018 earnings per share (EPS) estimates for shares of Medley Capital in a report released on Tuesday. Jefferies Group analyst K. Joseph now anticipates that the investment management company will post earnings per share of $0.15 for the quarter, down from their previous estimate of $0.17. Jefferies Group has a “Hold” rating and a $6.50 price target on the stock. Jefferies Group also issued estimates for Medley Capital’s Q2 2018 earnings at $0.16 EPS, Q3 2018 earnings at $0.16 EPS, Q4 2018 earnings at $0.16 EPS, FY2018 earnings at $0.64 EPS, Q1 2019 earnings at $0.16 EPS, Q2 2019 earnings at $0.16 EPS, Q3 2019 earnings at $0.16 EPS and Q4 2019 earnings at $0.17 EPS.
MCC has been the topic of a number of other reports. Zacks Investment Research cut Medley Capital from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 4th. Keefe, Bruyette & Woods set a $6.00 target price on Medley Capital and gave the stock a “hold” rating in a research note on Friday, December 8th. ValuEngine upgraded Medley Capital from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. Finally, National Securities reiterated a “neutral” rating and set a $6.00 target price on shares of Medley Capital in a research note on Thursday, December 7th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $6.17.
Shares of Medley Capital (NYSE:MCC) traded down $0.03 during trading hours on Wednesday, reaching $5.39. The company’s stock had a trading volume of 73,713 shares, compared to its average volume of 346,241. The company has a current ratio of 11.02, a quick ratio of 11.02 and a debt-to-equity ratio of 1.06. Medley Capital has a fifty-two week low of $5.35 and a fifty-two week high of $8.05. The company has a market cap of $294.16, a PE ratio of 7.94, a PEG ratio of 1.71 and a beta of 1.21.
Medley Capital (NYSE:MCC) last issued its quarterly earnings data on Thursday, December 7th. The investment management company reported $0.16 earnings per share for the quarter, meeting the consensus estimate of $0.16. Medley Capital had a positive return on equity of 7.50% and a negative net margin of 15.66%. The business had revenue of $22.10 million for the quarter, compared to analysts’ expectations of $23.51 million. During the same period last year, the business earned $0.23 EPS. The business’s revenue was down 18.7% on a year-over-year basis.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 22nd. Stockholders of record on Wednesday, November 22nd will be paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 11.87%. The ex-dividend date is Tuesday, November 21st. Medley Capital’s payout ratio is -246.15%.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in MCC. Aperio Group LLC bought a new stake in shares of Medley Capital during the 2nd quarter worth $246,000. Sigma Planning Corp raised its stake in shares of Medley Capital by 113.7% during the 2nd quarter. Sigma Planning Corp now owns 28,623 shares of the investment management company’s stock worth $183,000 after purchasing an additional 15,231 shares during the period. IFC Holdings Incorporated FL raised its stake in Medley Capital by 77.4% in the 2nd quarter. IFC Holdings Incorporated FL now owns 35,054 shares of the investment management company’s stock valued at $222,000 after acquiring an additional 15,290 shares during the period. Advisors Asset Management Inc. raised its stake in Medley Capital by 31.3% in the 2nd quarter. Advisors Asset Management Inc. now owns 398,117 shares of the investment management company’s stock valued at $2,544,000 after acquiring an additional 94,909 shares during the period. Finally, Legal & General Group Plc raised its stake in Medley Capital by 9.5% in the 2nd quarter. Legal & General Group Plc now owns 140,038 shares of the investment management company’s stock valued at $896,000 after acquiring an additional 12,162 shares during the period. Institutional investors own 29.34% of the company’s stock.
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About Medley Capital
Medley Capital Corporation is a non-diversified closed-end management investment company. The Company’s investment objective is to generate current income and capital appreciation by lending directly to privately-held middle market companies, primarily through directly originated transactions to help these companies expand their business, refinance and make acquisitions.
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